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Kyle Davies Is Not 'Sorry' For 3AC Bankruptcy, Says 'No, Like Companies Go Bankrupt'
Thursday, March 21, 2024 - 4:54am | 459Former co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), Kyle Davies, has publicly stated that he harbors no regret regarding the fund’s bankruptcy. What Happened: In an interview on the Unchained Podcast, aired on March 19, Davies said, “Am I sorry for a company...
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Barry Silbert's DCG Can't Meddle With Genesis Ownership Until Chapter 11 Finalizes: Court
Tuesday, December 19, 2023 - 12:23pm | 315Genesis won a bid to block its parent company, the Barry Silbert-led Digital Currency Group (DCG), from selling or reducing ownership in the company. What Happened: Until Genesis closes its Chapter 11 proceedings, it can receive certain tax benefits which will be applicable only if the company...
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Rare NFTs Seized From Sunk Hedge Fund Three Arrows Capital Up For Auction At Sotheby's
Thursday, May 4, 2023 - 1:22pm | 401One of the biggest and most renowned auction houses in the world, Sotheby's, has announced intentions to auction off a number of high-profile non-fungible tokens (NFTs) that had belonged to the long-gone cryptocurrency hedge fund Three Arrows Capital (3AC). The Grails collection will serve as...
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You Think FTX Was Bad? Investors Suffered Far Greater Losses From Terra: Report
Thursday, December 15, 2022 - 12:00pm | 407The collapse of cryptocurrency exchange FTX (CRYPTO: FTT) has not been the biggest concern for investors this year. Recall the de-pegging of Terra’s (CRYPTO: USTC) token and the collapse a few weeks later of Celsius and Three Arrows Capital (3AC) — investors suffered much bigger losses...
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Cardano Stablecoin Project Shuts Down Over 'Funding, Timeline' Uncertainty After FTX Collapse
Friday, November 25, 2022 - 3:54am | 469Ardana, a DeFi and stablecoin ecosystem building on Cardano (CRYPTO: ADA), halted development on Thursday, citing "funding and project timeline uncertainty." What happened: Ardana Labs said it will keep the project open-source for builders, while “treasury balances and remaining...
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Bankrupt Voyager Seeks Creditors' Vote For $1.42B Sale To FTX
Wednesday, October 19, 2022 - 11:41pm | 472Bankrupt cryptocurrency lending firm Voyager Digital Ltd. (OTC: VYGVQ) has sought creditors' approval for its $1.42 billion sale to cryptocurrency exchange FTX, after securing an initial court clearance. U.S. Bankruptcy Judge Michael Wiles said that as...
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Did Tesla Crash the Bitcoin Market?
Friday, July 22, 2022 - 12:31pm | 877Electric vehicle company Tesla Inc (NASDAQ: TSLA) purchased $1.5 billion of Bitcoin (CRYPTO: BTC) in January 2021. After two sales, the company now holds less than $250 million of the leading cryptocurrency. Did the timing of a recent sale help lead Bitcoin into a crash? What Happened: Tesla...
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3AC Co-Founders Used Assets To Buy $50M Yacht, Requesting It Be The 'Biggest Yacht In Singapore'
Tuesday, July 19, 2022 - 4:30pm | 236In a recent affidavit, it was revealed that cryptocurrency fund Three Arrows Capital (3AC) used its assets to buy a multi-million-dollar yacht. What Happened: Liquidator Russel Crumpler published a 1,157-page affidavit revealing numerous details of 3AC. Documents revealed that 3AC co-founders Su...
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Genesis Lends $2.36 Billion To 3AC, Which Filed Chapter 15 Bankruptcy: What's Next?
Monday, July 18, 2022 - 6:03pm | 476Three Arrows Capital (3AC), a cryptocurrency hedge firm that just filed for Chapter 15 bankruptcy in New York, received a $2.36 billion loan from Genesis. It required a margin of more than 80% on its loans to 3AC, and when 3AC failed to meet those criteria, it liquidated collateral. After that...
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Where On Earth Are 3AC's Co-Founders? Crypto Hedge Funders Ditch Court Hearing And Remain Missing
Wednesday, July 13, 2022 - 10:11am | 445Crypto hedge fund Three Arrows Capital filed for Chapter 15 bankruptcy protection earlier this month. Since then, the beleaguered fund's legal team has said the whereabouts of its co-founders — Su Zhu and Kyle Davies — are untraceable. Zhu and Davies even missed their...
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Bankrupt Crypto Firm Three Arrows Capital's Assets Frozen By New York Judge
Tuesday, July 12, 2022 - 11:44pm | 410Bankrupt crypto hedge fund Three Arrows Capital's (3AC) assets have been frozen by the New York bankruptcy court after a ruling from a federal judge on Tuesday. What Happened: Judge Martin Glenn of the Southern District of New York granted an emergency motion to freeze 3AC’...
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Binance CEO Changpeng Zhao Denies Giving 3AC A Credit Line Following The Hedge Fund's Insolvency
Thursday, June 23, 2022 - 3:56pm | 432Binance (CRYPTO: BNB) CEO Changpeng Zhao denies providing hedge fund Three Arrows Capital (3AC) with a large-scale credit line. What Happened: Singapore-based cryptocurrency hedge fund 3AC recently experienced insolvency when it was liquidated by numerous crypto firms after being unable...
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Celsius, 3AC And USDT Are Among The Biggest Crypto Liquidations This Week
Friday, June 17, 2022 - 10:47am | 324Major cryptocurrency players, including Celsius (CRYPTO: CEL), 3AC, and Tether (CRYPTO: USDT), have experienced major liquidations. What Happened: Given the sharp fall in cryptocurrency prices, lending firm Celsius posted a total of 7,206 WBTC (CRYPTO: WBTC) as collateral to reduce its liquidation...